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Daily News Archive
Please note that The Daily News is publishing (hopefully) twice a week for the foreseeable future due to time constraints.
Tuesday, April 4th
"If people don't have their own vision, all they can do is sign up for someone else's. This result is compliance, never commitment.” -- Peter Senge
The Picks of the Day
SAP Buys Compliance Firm
“SAP said Monday it bought Virsa Systems, which provides governance, risk, and compliance management software, underscoring compliance software as the latest acquisition trend among larger business software companies.”
http://www.redherring.com/Article.aspx?a=16365&hed=SAP+Buys+Compliance+Firm§or=Capital&subsector=EconomyAndPolicy
An all-star challenge to Sarbanes-Oxley Act
“Mallory Factor, who has sued to abolish the U.S. auditing- oversight board, does not hide his litigation's real target: the Sarbanes-Oxley Act.”
http://www.iht.com/articles/2006/04/02/bloomberg/bxsuit.php
China's boom takes it back to the future
“What we are now witnessing with China — and increasingly with India — is a return to the past. From the beginning of the so-called ‘common era’ until the early 19th century, China and India were the world's largest economies — until they were progressively undermined by colonial mercantilism and overtaken by the industrial revolution, and later, by the rise of America.”
http://www.theage.com.au/news/business/chinas-boom-takes-it-back-to-the-future/2006/04/03/1143916465350.html
IT Process Improvement
Texas BCP Guidance
http://www.dir.state.tx.us/IRAPC/bcpg/bcpg.pdf
National Fire Protection Association
http://www.nfpa.org/PDF/nfpa1600.pdf?src=nfpa
OGC Risk Management Guidance plus links to HM Treasury’s Orange Book
http://www.ogc.gov.uk/sdtoolkit/deliveryteam/risk/index.html
Legal and Regulatory Compliance
Coming Clean about Bribery
“Because of their need to comply with Sarbox internal-controls rules, companies are spotting and reporting more violations of the Foreign Corrupt Practices Act.”
http://www.cfo.com/article.cfm/6764209?f=alerts
Regulations Spur Finance Cos. To Alter Mtgs. Policy
“Regulatory scrutiny is changing the way buyers at U.S. financial services companies approach corporate meetings and incentives. New banking rules coming into effect next year also have financial companies changing the requirements for the use of third-party providers.”
http://www.btnmag.com/businesstravelnews/headlines/meetings_display.jsp?vnu_content_id=1002275492
The clean-up queen of corporate governance
“Corporate governance is her passion, especially how it relates to financial services. She has firm views on the legislative, regulation and governance issues that are evolving, particularly in the post-Enron era. The issues have even included such wrongdoers in Australia as HIH.”
http://www.theage.com.au/news/business/the-cleanup-queen-of-corporate-governance/2006/04/03/1143916465344.html
Security and Risk Management
What I Learned at Hacker Camp
“It's easy to create malicious code, penetrate firewalls, and steal personal and financial information. ‘Ethical hacker’ Andrew Whitaker can show you how”
http://www.businessweek.com/technology/content/apr2006/tc20060403_499982.htm
Hacker hits Georgia state database
“An unpatched flaw in a ‘widely used security program’ was exploited by an unknown hacker to gain access to a Georgia Technology Authority (GTA) database containing confidential information on more than 570,000 members of the state’s pension plans.”
http://www.itworldcanada.com/a/News/e292f953-5fcc-4a1e-8fad-838344402d61.html
Human Error / Safety
Disaster training center to be built in Hyogo
“In response to the lessons learned from the 1995 Great Hanshin Earthquake, the Hyogo prefectural government will establish a facility to train rescuers to assist disaster or accident victims trapped under rubble and give them on-the-spot medical treatment.”
http://www.yomiuri.co.jp/dy/national/20060327TDY03005.htm
Bird flu: the secret Cabinet document
“THE death toll from a bird flu pandemic in Britain could be more than 700,000, according to a confidential government report seen by The Scotsman.”
http://news.scotsman.com/health.cfm?id=508792006
Bird flu victims to be buried in plague pits
“More than a third of a million British victims of bird flu are to be buried in plague pits if an outbreak of the deadly disease takes hold, a leaked government report revealed.”
http://www.lse.co.uk/ShowStory.asp?story=HE223986Z&news_headline=bird_flu_victims_to_be_buried_in_plague_pits
Experts pleased with bird flu efforts
“Three weeks after its discovery in the country, Israeli and international health authorities are being cautiously optimistic about their progress in combatting bird flu in the region, despite the fact that they are still unable to predict its spread, according to Israeli and Jordanian Health Ministry representatives.”
http://www.jpost.com/servlet/Satellite?cid=1143498786979&pagename=JPost%2FJPArticle%2FShowFull
Outsourcing / Globalization
Firms no longer coy about outsourcing
“Secrecy surrounding outsourcing strategies of global software product companies may soon be a thing of the past. Software product firms, which were forced to keep their outsourcing plans under wraps following the tech meltdown early this decade, may soon start disclosing their plans publicly, especially in India.”
http://www.thehindubusinessline.com/2006/04/03/stories/2006040301660200.htm
Report: Airline delays, complaints on the upswing
“JetBlue and other low-fare airlines once again held the top rankings in a national survey of carrier quality, made public Monday. The survey found that people are flying more and complaining more.”
http://www.cnn.com/2006/TRAVEL/04/03/airline.quality.ap/index.html
Managing the risk of outsourcing in the financial services sector
“With ever-greater competition in the financial services sector, financial institutions are increasingly outsourcing non-core business processes and functions in order to find new efficiencies, reduce costs and increase shareholder value. Outsourcing presents particular challenges for financial institutions as regulated entities, as they will remain responsible to their supervisory authorities and customers for the actions of the service providers to whom they outsource. This and other potential exposures can, however, be managed by putting in place a contract that reflects the particular requirements and policies of the business.”
http://www.finance-magazine.com/display_article.php?article_id=6257&node=1
China makes "biggest ever progress" in human development: report
“The report analyzed China's income and wealth distribution, employment opportunities, social security, and public expenditure.It said that China has made remarkable progress in social and human development since its reform and opening up. According to the report, China's HDI in 2003 was 0.755, ranking85th among 177 countries, which represents a medium level of humandevelopment. China's ranking has risen up by 20 percent since 1990,the biggest progress ever, largely due to income growth.”
http://news.xinhuanet.com/english/2006-04/03/content_4380197.htm
Economics / Business / Misc.
Tagged, But Not It Yet
“A small group of companies has signed up with the SEC to test Internet-tagging of financial data. Will this latest effort finally launch the long-predicted XBRL revolution?”
http://www.cfo.com/article.cfm/6763164/c_6764367?f=alerts
Lean manufacturing and IT: no oxymoron
“By applying Lean to the enterprise, rather than to one process – taking into account processes that are equally value-added but tangential to manufacturing itself – manufacturers are finding that IT can be applied to Lean philosophies to the benefit of business. The schism between IT and Lean thinking occurred due to the incompatibility of existing manufacturing IT with the Lean environment at its conception.”
http://www.ferret.com.au/articles/dc/0c03ccdc.asp
Thursday, April 6th
The Daily News will not be published.
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